Northern Territory Government Newsroom

NT Government welcomes final board member to Northern Territory Infrastructure Development Fund

The Northern Territory Government has welcomed the announcement of Mark Burgess as the fifth and final member to the Board of the Northern Territory Infrastructure Development Fund.

Treasurer David Tollner said Mark Burgess brings a wealth of valuable experience in infrastructure investment to the NTIDF Board.

“Mr Burgess has an accomplished career in infrastructure development and was formerly the managing director of the Future Fund Management agency,” he said.

“His knowledge and experience in investing in local and global infrastructure assets will benefit future development plans in the Northern Territory and ensure the NTIDF achieves its aim of generating future revenue for the NT.”

“I am extremely pleased to join such an important and positive initiative for the Northern Territory,” Mark Burgess said.

“The development of a world class infrastructure fund of the highest quality that will support growth in the NT at an important time is an exciting prospect and I look forward to joining the Board.

“This is a unique and leading investment opportunity to build a long-term diversified portfolio of infrastructure investments which will benefit the long term development of the Territory.”

The NTIDF Board consists of:

“The NTIDF is now fully operational and aims to attract up to $1.5 billion of investment, including external investment from Australian governments, Australian superannuation funds, and other Australian and international institutional investors,” NTIDF Chairman Les Fallick said.

“The key objective of the NTIDF is to be a long-term investor in a diversified portfolio of infrastructure assets.”

The NTIDF will:

“By attracting external investment, the NTIDF will seek to leverage the Territory Government’s initial investment of $300 million into a total pool of capital of $1.5 billion, which should generate at least $4.5 billion in infrastructure investment,” Mr Tollner said.

In April, Infrastructure Capital Group (ICG) was selected as the investment manager for the NTIDF.

ICG is an independent Australian infrastructure funds management firm with over 15 years experience and a track record of investment in successful and effective infrastructure projects. 

ICG are now responsible for all aspects of the investment process including identifying and delivering a range of infrastructure projects which will deliver a commercial rate of return to the fund’s investors.

The NTIDF will invest directly in a diversified portfolio of infrastructure assets that may include:

The fund will seek to invest primarily in Northern Territory related infrastructure assets, however under appropriate circumstances some funds may be invested outside the Northern Territory, such as linking projects with other States.

The NTIDF is the first of its kind in Australia and will support the development of infrastructure using the proceeds of the sale of TIO and the long term lease of the Port of Darwin.

“The NTIDF is a down-payment on the Territory’s future growth – an investment that will deliver jobs and prosperity for years to come,” Mr Tollner said.

“This major initiative is part of the Country Liberals Government’s plan to continue to diversify and support the NT economy following Labor’s massive debt legacy.”

To learn more about the NTIDF go to http://www.treasury.nt.gov.au/Economy/NTIDF/Pages/default.aspx

Media Contact: Marnie Hobson 0409 527 909

Northern Territory Infrastructure Development Fund Board